The big ideas tackled are space, size, and sound. For space, EH suggests incorporating as much as you can on the walls. When floor space is at a premium, it's good advice to build as much as you can (and are allowed) into the walls. Next is size, and bigger does not equal better when it comes to TVs in small spaces. Choose a TV that will work well in your space, EH gives a bunch of tips to calculate exactly what your room can take. Finally, what about sound? Here the answer is placement, and if you can't use in-wall speakers, make sure those speakers are not up against those walls!
Whether you're a movie buff or just want some ideas about curbing media clutter, this article serves as a great jumping off point for thinking about redesigning your small, cool theater.